"John was truly a giant in the industry who changed filmmaking for the better," Lawrence Lotman, chief financial officer and acting chief executive officer of Film and Music Entertainment Inc., said in a statement.

Born in London in 1937, Daly joined with British actor David Hemmings in 1967 to form Hemdale, a company that managed rock bands such as Yes and Black Sabbath.

Hemdale later became a leading independent film producer and distributor in Britain with movies such as "Tommy," according to a biography issued by Film and Music Entertainment Inc.

Under Daly's stewardship, Hemdale produced more than 100 films that grossed more than $1.5 billion.

Since 2003, Daly had been at the helm of Film and Music Entertainment Inc.

In 2004, he produced, co-wrote and directed "The Aryan Couple," starring Martin Landau, which received awards at film festivals around the world.

In addition to his daughter, he is survived by three sons, Julian, Michael and Timothy.